Finance

Beyond the 2018 Financial Milestones Wall

Above and Beyond Financial Milestones in 2018

To all: rejoice! we’ve closed another big financial year at Sievo! Let’s take a quick look in the rear-view mirror and review our financial performance in 2018.

If you follow our company closely, you may remember that 2017 was a record year for Sievo with 47% revenue growth. This was always going to be a tough record to beat, and we didn’t quite make it in 2018. We grew our top-line revenue by 24% in 2018.

There is no need to be down-hearted about it though: we are gaining market share in a growing and highly competitive market. We’ve sustained our growth organically while keeping Sievo profitable. I say this is a strong result.

Looking beyond growth, we also passed a symbolic and important milestone in 2018. Our turnover passed 10M€, landing at 11,5M€ for the year. An influential analyst claimed some time ago that no self-financed procurement analytics vendor could make it above 10M€ in a sustainable manner. We’ve gone above and beyond that level, handling increasing customer complexity, demanding technical challenges and huge competitors.

We’ve made it beyond the 10M€ wall … and we intend to keep growing. To maintain the pace, we will be revealing in the next few weeks and months exciting news about our products.

Thanks to our customers for your trust and for the challenges you bring to the table.

Thanks to every Sievo employee for your dedication, creativity, and professionalism.

Together, we made it beyond the wall. Now, let’s take in 2019!

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